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BARTH CONSTRUCTION, INC. <br />STATEMENT OF CASH FLOWS <br />FOR THE YEAR ENDED DECEMBER 31, 2021 <br />(WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 2020) <br />See Accompanying Notes to Financial Statements and Independent Accountants' Review Report. <br />-5- <br />2021 <br />2020 <br />CASH FLOWS FROM OPERATING ACTIVITIES: <br />Net income <br />$ 120,797 $ <br />404,702 <br />Adjustment to reconcile net income to net <br />cash flows from operating activities: <br />Depreciation <br />476 <br />24,750 <br />Deferred tax adjustment <br />7,575 <br />Changes in operating assets and liabilities: <br />Contracts receivable <br />332,429 <br />(482,772) <br />Contract assets <br />(31,903) <br />52,405 <br />Income tax deposits <br />- <br />398 <br />Refundable deposits <br />7,500 <br />- <br />Accounts payable <br />(388,266) <br />350,371 <br />Contract liabilities <br />(393,290) <br />347,460 <br />Accrued liabilities <br />(1,045) <br />815 <br />Retirement plan contributions payable <br />6,541 <br />8,530 <br />Net change in cash from operating activities <br />(339,186) <br />706,659 <br />CASH FLOWS FROM INVESTING ACTIVITIES: <br />Purchases of property and equipment <br />- <br />(12,368) <br />Net change in cash from investing activities <br />- <br />(12,368) <br />CASH FLOWS FROM FINANCING ACTIVITIES: <br />Capital distributions <br />(319,068) <br />_ <br />Net change in cash from financing activities <br />(319,068) <br />- <br />NET CHANGE IN CASH AND EQUIVALENTS <br />(658,254) <br />694,291 <br />CASH AND EQUIVALENTS, beginning of period <br />1,479,836 <br />785,545 <br />CASH AND EQUIVALENTS, end of period <br />$ 821,582 $ <br />1,479,836 <br />CASH PAID FOR INCOME TAXES <br />$ 21,850 $ <br />26,411 <br />See Accompanying Notes to Financial Statements and Independent Accountants' Review Report. <br />-5- <br />